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Why Pending Signs Dump Ice Cold Water On Your Most Qualified Buyers & Sellers

         

Why would you use a pending sign? A lot of REALTORS use a pending sign because they want to encourage people to list their home with them. And they want to show off to the marketplace that their marketing actually worked.

But a pending sign can actually be the worst possible thing you can do for your marketing.

Why?

Because when homeowners in your neighborhood see your listing go up, that's when they're most likely to call you and be curious about the home. The pending sign can help a little bit, but you're going to miss out on the most qualified buyers you can have. 

And I'll give you a classic example:

My wife and I have identified an area of town we want to live in called Echo of the Pines. It's a beautiful area with some nice homes in the neighborhood but very few homes come on the market. The other night when we were driving home, we saw a new for sale sign. As a REALTOR, I get all these alerts, but they become noise and I tune them out.

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Are you ready for the "Mother of all Bidding Wars"?

According to Barron's magazine "The Mother of all Bidding Wars is Coming" 

They point to several key factors:

  • The Mortgage Bankers Association Purchase Index for the week ending on June 5 was up 13% from the same week a year ago.
  •  Robert Shiller, who predicted that house prices in the suburbs would rise faster than those in city centers in coming years, as buyers, now practiced at working from home, seek more social-distancing space.
  • Glenn Kelman, CEO of Redfin (RDFN) says traffic growth for his online listings for houses in suburbs and small towns has outpaced that for in big cities by 164% over the past two months.
  • Inventory of existing homes for sale was the lowest on record for the month, according to the National Association of Realtors. And bank forbearance has reduced foreclosures, further restricting supply. How do you thrive in a low supply market?

Watch this video for tips on working with buyers and sellers when inventory is at all time low and bidding...

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How to Win in a Multiple Offer Situation

As the market continues to strengthen we are seeing more buyers enter the market but sellers are slow to return. This means more buyers are competing for fewer listings which often equals multiple offer situations. How can you help you buyers win in a multiple offer situation?
 
Watch this quick video for several tips on helping your clients get into a position to receive an acceptance.  You deserve more accepted offers, more closings, and more clients who are raving fans of your negotiation skills! 
 

 
Ready to upgrade your real estate career with a system that you can plug into today that offers massive value and is led by one of the most successful Brokers in the country?
 
 

 

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